The following insurance tips for small business will help you make wise decisions regarding your commercial insurance, and get the best value for your money.
No two insurance policies are the same. Even if every detail of the policy is the same, quotes from two different companies can really vary. By shopping around you can save money and even potentially discover options you didn’t know existed.
Your business insurance policy is only valuable if you understand the details. You need to know what warranties exist and what actions they require you to take. You also need to know what circumstances allow you to make a claim. Without this understanding, you aren’t getting the benefits you are paying for.
Every year you should review your policy for three reasons:
Every business, no matter how small, should have liability insurance. Without it, an accident by a customer or employee could bankrupt you. If you have a business that is generally considered safe, this doesn’t cost much, but protects you immensely.
If you, or any member of your staff, use their personal car for commercial purposes, you need commercial auto insurance. Without this, you may not be fully covered in case of an accident.
This type of insurance is one that many small businesses don’t realize they need. You only need it if you provide consultation services. Essentially, this is liability insurance for advice given to clients. If you make a mistake and it costs your clients money, errors and omissions insurance will protect your business.
The best way to ensure that you have the optimal business insurance for your small business is to talk to a professional insurance broker. Expert advice from an industry insider is the best way to protect your business.
No problem. That’s what insurance brokers do for their clients every day. If you have any questions, or would like some no obligation quotes, please contact Sean McNamara at Mitchell & Whale Insurance Brokers at 1-800-731-2228 or email me at firstname.lastname@example.org. I’d be happy to help you with any type of commercial insurance.
Want to add to this story? Let us know in comments below! Mitchell & Whale is a fast-growing insurance brokerage in Ontario, striving to make insurance _not suck_ one customer at a time. Give us a call today to discuss any of your insurance needs at 1.800.731.2228.